In virtualized computing environments, physical memory of a computing system can be allocated to multiple logical partitions in a dedicated manner or in a shared manner. In a dedicated memory allocation scenario, a system administrator may manually issue a dynamic memory reconfiguration to cause unused memory from one logical partition to be reallocated to another logical partition that is being impacted by memory constraints. According to the shared memory allocation scheme, on the other hand, the system may automatically decide the optimal distribution of the physical memory to logical partitions and adjust the memory assignment based on demand for memory pages. While active memory sharing allows multiple logical partitions to share a common pool of physical memory, and thus, provides certain memory virtualization capabilities, it nonetheless suffers from a number of drawbacks. Discussed herein are technical solutions that address at least some of these drawbacks associated with existing solutions for active memory sharing.